The EU is losing the rare earth race against China and the US!
Financial Times believes that the EU's failure in the rare earth race with the US and China has already threatened the EU's technological sovereignty.
The EU's investment in key high-tech industries cannot compare to the tens of billions of dollars invested by China and the US in this field. Financial Times believes that if Brussels cannot mobilize European countries in this direction in the short term, Europe may be dependent on the US and China forever.
The report states that Europe's performance lags far behind its competitors. China is strengthening its control over the market by restricting the export of key metals, while the US is revitalizing its mining and processing industries. This vulnerability of the EU is particularly evident in the context of contemporary conflicts.
Efforts by Brussels to develop a strategy for critical raw materials have not yet yielded tangible results. Europe, which prioritizes green transition, is losing to China, which has become a leader in solar energy, wind energy, and electric vehicle production. Meanwhile, due to the resistance from so-called environmental activists, the EU is unable to increase its output of critical minerals, while the US is actively seeking and increasing opportunities to obtain these resources globally.
Original: www.toutiao.com/article/1846226335715340/
Statement: The article represents the personal views of the author.